We are less than two months away from the U.S. presidential elections, and it comes as no surprise that cannabis reform has become a prominent 2020 election campaign talking point. With cannabis reform in the spotlight, more voters and political observers are interested in the contenders’ positions on this issue, and contenders are using the cannabis issue to garner support from the fast-growing cannabis constituency.
On the contrary, cannabis producers, consumers, and dispensaries are confronting the issue differently. During this time, cannabis industry players are looking at the bigger picture and considering what the outcome of the U.S. elections will mean for individual businesses and the cannabis industry as a whole.
So, How Will the Upcoming U.S. Elections Impact Cannabis Reform?
Research by Pew Research Center shows that two-thirds of Americans say that the use of marijuana should be legalized. Analysts predict that this growing public support for cannabis reforms will influence the political parties’ approach in favor of cannabis reforms. If public opinion is anything to go by, the impression out there is that the U.S. elections outcome might signal promising prospects for the marijuana market and cannabis industry growth.
As Americans go to the polls, the fate of numerous cannabis reform bills lying in congress hangs in the balance. Pundits believe that the senate race’s outcome will be vital in influencing the bearing cannabis reforms and policies take.
Investors and entrepreneurs cautious about investing in the cannabis market should bank on market research from previous elections showing a positive business outlook in the aftermath of the November elections and stay the course. Additionally, it cannot be overlooked that partisan stands on cannabis reforms are gravitating towards cannabis reforms and bringing in more legal clarity on the issue, which is good news for industry players.
Going by what the presidential hopefuls say about cannabis reforms, political analysts are painting an optimistic picture of the industry beyond the 2020 presidential election. With the presidential candidates having declared their positions and outlining what they seek to do about marijuana, they underline that cannabis reforms are inevitable. By looking at the prospects cannabis reforms portend through cannabis industry players’ eye lens, one quickly realizes encouraging reforms are in the offing at the federal level.
What The U.S. Elections Mean for Cannabis Producers, Dispensaries, and Consumers
Cannabis producers, dispensaries, and consumers should expect a transformation of the cannabis sector landscape, much to their benefit. An industrial revolution of the cannabis industry driven by cannabis reforms beyond the 2020 U.S. elections will poise marijuana retail markets and dispensary sales for significant gains.
The growth potential for the U.S. marijuana market is quite enormous, and analysts anticipate that it will continue to grow in the short and medium-term. As medical and recreational cannabis markets continue to expand, long-term growth is poised for a healthy-looking financial future. Cannabis producers and dispensaries should expect the 2020 U.S. elections to bring in the much-needed cannabis reforms that will catapult the industry to its next stage.
The U.S. cannabis industry landscape is expected to change for the better with the onset of cannabis reforms beyond the November elections. Consequently, cannabis producers, dispensaries, and consumers will be the biggest winners once the remaining parts of the cannabis reform puzzle fall into place.
For more Cannabis industry news, trends, technology, and research, check out the official Ispire blog.